First-Floor Mixed-Use Commercial
For Sale
$250,000
146-14 35th Avenue Unit MD2, Flushing, NY 11354
The space is currently a dental lab and offers lobby-level access with high ceilings.
Property Size1,119 SF
Price / SF$223.41
Days on Market77
Property Features for 146-14 35th Avenue Unit MD2
General Information
Standard status
Active
Size
1,119 SF
Property subtype
Mixed Use
Site & Location
Road Access
Yes
Public Transit
Yes
Additional Details
Floor
First Floor
Taxes and HOA fees
Annual Taxes
$15,812
Amenities
high ceilings
Building Details
Building Size
1,119 SF
Year Built
2003
Listing Agency:
Annkey Realty, Inc.
(347) 553-2661
Listed By:
Thinley Yangkyi
Source:
Cbwarburg
Added: May 26
Changed: Aug 10
Last Checked: Aug 10 at 9:47AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Annkey Realty, Inc.
Investment Insights
Based on property information with market context.
This first-floor commercial condominium is situated within a residential condo building and has lobby-level entry. The space is currently operating as a dental lab, with high ceilings and a flexible interior layout. It may accommodate professional office, medical, retail, showroom, or investment use, and can be delivered vacant at closing.
The property is located at 146-14 35th Avenue in Flushing, one block from Northern Boulevard and minutes from Main Street. Nearby transportation and amenities include subway service, the LIRR, buses, restaurants, and shopping. Built in 2003, the unit offers a commercial presence within a mixed-use building and access to established transit and neighborhood services.
The property is located at 146-14 35th Avenue in Flushing, one block from Northern Boulevard and minutes from Main Street. Nearby transportation and amenities include subway service, the LIRR, buses, restaurants, and shopping. Built in 2003, the unit offers a commercial presence within a mixed-use building and access to established transit and neighborhood services.
Key Highlights
- First‑floor commercial condo with lobby‑level access
- Currently configured and operating as a dental lab
- High ceilings and flexible interior layout
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$19,974
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.99%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$399,480
$399.5K
Cap Rate 7%
$285,343
$285.3K
Cap Rate 9%
$221,933
$221.9K
Market Conditions
NOI Build-Up for 1,119 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$33.6K $30.00/SF
− Vacancy
−$5.0K −$4.50/SF
EGI
$28.5K $25.50/SF
− OpEx
−$8.6K −$7.65/SF
NOI
$20.0K $17.85/SF
Area
Queens County, NY
Vacancy
15.00%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$399,480
Cap Rate 7%
$285,343
Cap Rate 9%
$221,933
Alternative Uses
Best Use
Office B
$526.3K
$460.5K – $614.0K
NOI $36,842 @ 7.0% cap · market cap 14.74%
Second Best
Healthcare Medical
$368.6K
$322.5K – $430.0K
NOI $25,802 @ 7.0% cap · market cap 10.32%
Theoretical Best
Office A
$824.9K
$721.8K – $962.4K
NOI $57,746 @ 7.0% cap · market cap 23.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
5,689
Businesses Nearby
Explore this area
Business Placement
Demographics for 11354, NY
61,276
Population
22,979
Households
2.7
Avg Household Size
45
Median Age
33%
College-Educated
79%
High-School Grad
2.2 sq mi
ZIP Area
27,853
Density / Sq Mi
$62,833
Median Household Income
$40,404
Median Earnings
$1,766
Median Rent
$521,000
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - The space is currently a dental lab and offers lobby-level access with high ceilings.
Where is this mixed-use property located?
The property is located at 146-14 35th Avenue Unit MD2 Flushing, NY.
What is the asking price?
The asking price for this property is $250,000.
What are key features of this property?
This property features: First‑floor commercial condo with lobby‑level access; Currently configured and operating as a dental lab; High ceilings and flexible interior layout
